Kenya Airways made headlines last year when it reported its first full-year profit in 12 years, with net earnings hitting a historical high of Sh5.4 billion for 2024.

Geopolitics and maintenance issues struck a double blow to the national carrier’s recovery, however, resulting in a net loss for 2025 of about Sh17 billion.

In his first extensive media engagement since becoming chairman of the airline, which is also known as KQ, Kiprono Kittony opens up on the financial turmoil, fleet expansion, investor confidence, mental health and why Africa’s aviation future depends as much on storytelling as strategy.

JOURNALIST IMMERSION

There are times when access becomes more than journalism. It is a rare window into how a national institution is being rebuilt in real time.

That moment came during the Kenya Airways Aviation Media Lab held from May 25 to 29, where chairman Kiprono Kittony delivered his first in-depth interview since his appointment.

The candid and wide-ranging engagement offered fresh insight into the airline’s financial challenges, recovery strategy, investor outlook and the broader future of aviation in Africa.

For five days, journalists were given access that few outsiders ever receive.

They toured operational facilities, sat through technical briefings, engaged aviation experts and examined the systems that move millions of passengers and tonnes of cargo across continents each year.

Yet the most revealing moments of the Media Lab came not inside a hangar or on an airport apron, but from the man now tasked with steering Kenya Airways through one of the most consequential periods in its history.

Across the multi-day immersion, Kittony explained the systems that make KQ tick.

“This is not just another airline,” he said. “It is a system of systems. A single flight from Nairobi to London depends on aircraft availability, maintenance cycles, fuel prices, weather, crew regulations and coordination across multiple jurisdictions. Any disruption in that chain affects everything.”

The statement set the tone for a week that moved seamlessly between hard economics, operational realities and candid reflections on leadership under pressure.

At a time when aviation remains vulnerable to geopolitical tensions, supply chain disruptions and volatile fuel prices, Kittony’s message was clear: Kenya Airways is facing its challenges head-on and is determined to emerge stronger.

TURBULENCE AND TURNAROUND

Kittony was direct about the financial strain the national carrier has faced in recent years.

 “We posted a net loss last year of about Sh17 billion,” he said. “This was not caused by one factor. It was global geopolitical developments that pushed fuel prices up, and aircraft that reached major maintenance cycles at the same time.”

For an airline operating in an increasingly unpredictable global environment, the impact has been significant. Rising fuel costs, supply chain bottlenecks and fleet maintenance requirements have combined to create operational and financial pressure across the industry.

Yet Kittony was equally firm that the airline is no longer in a holding pattern.

“We have a plan. The new board has been tasked with reviving the airline. We have already raised short-term funding that will allow us to meet obligations to creditors and lessors and put more aircraft back into the air.”

The recovery strategy is already taking shape.

By the end of the northern summer season, Kenya Airways expects to have up to four additional aircraft operating.

By the end of the year, the airline intends to increase its fleet by another seven to eight aircraft. A Boeing 777 is also expected to return to service, with its first flight to London Heathrow scheduled for July 17.

“The intention is simple,” Kittony said. “To ensure Kenya maintains a national carrier that is not just surviving but competitive.”

Recent geopolitical disruptions show the importance of maintaining a strong national airline, he said.

“When wide-bodied aircraft from the Gulf stopped flying, many countries were crippled,” he said. “Kenya was not one of them because we have our own national carrier.”

His conviction is rooted in a broader vision of aviation as an economic catalyst. While aviation contributes only about three per cent to Kenya’s GDP, Kittony believes the sector holds significantly greater potential if supported through deliberate policy and investment.

Countries such as the United Arab Emirates have transformed aviation into a major economic driver, contributing nearly a quarter of national GDP. For Kenya, the opportunity remains largely untapped.

The airline is also investing in technology and customer experience improvements as part of its turnaround strategy.

Kenya Airways is reviewing its Passenger Service System, the technology backbone that supports customer interactions and operational efficiency. Discussions are also underway around fleet-wide Wi-Fi connectivity, improved cabin experiences and service enhancements aimed at strengthening customer satisfaction.

“By the end of this year, you will see a huge change,” Kittony promised.

LOCAL CAPITAL, GLOBAL AMBITION

Perhaps one of the most significant themes to emerge from the interview was Kittony’s confidence in Kenya’s capital markets.

At a time when struggling airlines across the world often seek external bailouts, Kenya Airways has largely relied on domestic support.

“Our funding is a consortium of local banks,” he said. “The banking consortium owns 38 per cent of Kenya Airways, while the government owns just under 50 per cent. These are national stakeholders.”

He framed the philosophy underpinning the airline’s recovery as local solutions to local problems.

“We have not gone outside our jurisdiction to find this money. It is Kenyan money in Kenya, solving Kenya Airways’ problems.”

For Kittony, the turnaround is not simply about raising capital; it is about demonstrating confidence in local financial markets and institutions.

His belief is informed by years of experience in the capital markets. As chairman of the Nairobi Securities Exchange, he remains convinced that Kenya has sufficient liquidity to fund transformative ventures.

“There is a lot of money in Kenya,” he said. “The pension industry is growing rapidly. Insurance companies, saccos and high-net-worth individuals all have capital available. What we need are strong opportunities for investment.”

That confidence appears to be reflected in recent market activity.

Kenya Airways recently witnessed increased trading activity on the Nairobi Securities Exchange, with approximately Sh500 million worth of shares changing hands.

 “You saw the share price rise from Sh5 to Sh5.75,” Kittony said. “Investors vote with their money.”

While careful not to overstate short-term market movements, he described the renewed investor interest as an encouraging signal.

Looking ahead, the airline is preparing an investment memorandum with the support of consultants. Once completed, the document will guide the structured search for a strategic investor.

All options are on the table. “We are open-minded,” Kittony said. “We will be looking at airline experience, funding capability and access to equipment.”

Kenya Airways is attracting interest from both local and international investors.

“There are many actors globally who want to invest in Kenya Airways,” he said. “Similarly, in the local economy, we have many interested parties willing to put more funds into the airline.”

Kittony advised entrepreneurs and young investors to stay on top of the information curve.

He encouraged start-ups to explore opportunities in emerging sectors, such as digital services, technology and aviation-related businesses, while leveraging capital markets as a source of patient funding.

“Build strong business plans, build strong businesses and seek funding through the markets.”

SHAPING NARRATIVES

While much of the discussion centred on aircraft, balance sheets and strategy, one of the most compelling themes was the role of communication.

The Aviation Media Lab itself was created to deepen understanding between the aviation industry and the media, recognising that airlines operate in an environment where public trust is critical.

“You are extremely influential,” Kittony told us. “A TikTok video, a podcast or a social media post can affect brand perception, shareholder value and competitiveness.”

The programme was designed to expose journalists to the realities behind aviation operations, from maintenance and cargo logistics to customer experience and safety procedures.

“We are taking you under the belly of the company,” he said. “And that is not a privilege we give lightly.”

Narratives, he said, should be informed by context.

“Aviation customers are not just buying tickets,” he said. “They are placing trust in safety, reliability and professionalism.”

He warned that incomplete or poorly contextualised reporting can have real-world consequences, affecting everything from consumer confidence to investor sentiment.

“We are not asking you to be aviation experts,” he said. “But we are asking for context.”

Beyond aviation, Kittony also reflected on Africa’s future.

“By 2050, Africa’s population will be larger than India and China combined,” he said.

“We have the most natural resources, minerals and arable land. The future belongs to Africa.”

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Economic potential is not enough. He referenced Kodak, the Titanic and Hewlett-Packard as examples of institutions that failed to adapt to changing realities.

“The message is simple,” he said. “Transformation is not optional.”

MENTAL HEALTH

The conversation became personal when the topic changed to mental health.

“As corporate leaders, we must ensure mental health is front and centre,” Kittony said.

“In our time, it was not as visible. Today, it is everywhere.”

He linked rising mental health challenges to the pressures of modern life, including information overload and constant digital connectivity.

“Even children today access more than we ever did growing up. Processing that requires structure,” he said.

He called on organisations to move beyond awareness campaigns and invest in proactive support systems for employees.

“We need to ensure our personnel are in a mentally secure state of mind to deliver on their mandates.”

As the Media Lab drew to a close, Kittony returned to three themes that had surfaced repeatedly throughout the discussions: transparency, resilience and transformation.

“We are not going through an easy time as an industry,” he admitted. “But we need you as stakeholders because you control the narrative.”

He said the turnaround of Kenya Airways is a work in progress; it’s an institution in active renewal.

“There are challenges we are prepared for and others that will emerge as we progress,” he said.

“We need to work together so that years from now, it can be said we did what had to be done to keep Kenya Airways and African carriers in business.”

For Kenya Airways, the future remains unwritten.

But after five days of unprecedented access and a rare glimpse into the thinking of its new chairman, one thing became clear: the airline’s leadership believes the next chapter will not be defined by the turbulence it has endured, but by how successfully it navigates the opportunities ahead.